May 12, 2013, 8:00 AM EDT
Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.
After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.
This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….
Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.
To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.
It’s an interesting plan… but it’s not going to work.
Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.
The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.
The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.
If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.
Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.
And what David Stern wants….
Jul 23, 2014, 1:00 AM EDT
As Cavaliers position themselves for Kevin Love trade, now was the time to sign No. 33 pick
Jul 23, 2014, 12:00 AM EDT
Bzdelik, who most recently coached Wake Forest, previously served as Nuggets head coach
Jul 22, 2014, 11:20 PM EDT
Bieber wearing a Nets hat, so you know what that means…
Jul 22, 2014, 10:20 PM EDT
Donald’s lawyer says ruling might not come for years
Jul 22, 2014, 9:20 PM EDT
Devin Harris 2.0?
Jul 22, 2014, 8:20 PM EDT
Brooklyn reaches regular-season roster limit of 15 players
Jul 22, 2014, 7:22 PM EDT
Utah reportedly trades John Lucas III, Malcolm Thomas and Erik Murphy to Cleveland for Carrick Felix, second-round pick and $1 million
Jul 22, 2014, 6:53 PM EDT
Sterling will be removed as Clippers owner one way or another because he is toxic to the organization right now.
Jul 22, 2014, 6:02 PM EDT
He’s going to get some of Paul Pierce’s minutes.
Jul 22, 2014, 5:11 PM EDT
Adam Silver does the classy thing. Again.
Jul 22, 2014, 4:20 PM EDT
Evan Turner is now a reclamation project — if he wants to get paid he has to become more efficient.
Jul 22, 2014, 3:38 PM EDT
It means the Timberwolves want to send Kevin Martin out in the Love deal, Cavs trying to make that happen.
Jul 22, 2014, 2:46 PM EDT
Once signed, he can’t be traded for 30 days … to the Timberwolves, for example.
Jul 22, 2014, 2:04 PM EDT
Taj Gibson and Jimmy Butler would reportedly be sent to Minnesota.
Jul 22, 2014, 1:42 PM EDT
Blake Griffin, James Harden, Kawhi Leonard and Damian Liillard among players who would face fines if they participated in a planned exhibition in Manila.
High school standout Emmanuel Mudiay skips college for China payday. You’ll see more of this if age limit goes up.
Jul 22, 2014, 1:01 PM EDT
If the age limit jumps to 20 more players will choose getting paid over college.
Jul 22, 2014, 12:27 PM EDT
Wizards take a more subtle approach than some of the others we’ve seen.
Jul 22, 2014, 11:49 AM EDT
Rookies Doug McDermott and Marcus Smart make the cut to train with the National Team in Vegas.
Jul 22, 2014, 11:13 AM EDT
Vujacic is known for his time with the Lakers, and hasn’t played meaningful minutes since 2011.
Jul 22, 2014, 10:37 AM EDT
Kings go nuts after winning Summer League championship.
- Justin Bieber and Kevin Durant share brunch (photo) 8
- Clippers CEO: If Sterling remains owner then Doc Rivers, players, sponsors all ready to bolt 43
- Report: Cavaliers trying to acquire other players to put in Kevin Love trade 54
- Report: Bulls making push to trade for Kevin Love 70
- Seven standout players from Las Vegas Summer League 10
- Maverick Carter: LeBron James and Dwyane Wade still speak nearly daily 37
- Red hot Ray McCallum leads Sacramento Kings to Summer League title with 77-68 win against Houston 3
- Lakers great Michael Cooper diagnosed with cancer 16